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Indiabulls Housing Finance Ltd.

BSE: 535789 Sector: Financials
NSE: IBULHSGFIN ISIN Code: INE148I01020
BSE 00:00 | 14 Oct 197.90 -12.05
(-5.74%)
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NSE 00:00 | 14 Oct 197.80 -12.10
(-5.76%)
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Update

October 9, 2019, 10:03 pm | Source: BSE | Downlaod PDFDownload PDF

This is to inform you that RBI vide their letter dated October 9 2019 has informed that the application for voluntary amalgamation of the Company with Lakshmi Vilas Bank cant be allowed.

Now that the merger will not happen with Lakshmi Vilas bank the uncertainty of last 5 months on the business is lifted and the Company will focus on its growth of the core business of housing finance. From its core business the Company has paid a total of Rs 10530 crores ($ 1.5 billion) in dividends translating to total dividends of Rs 271 per share on a Rs 2 paid up share to its shareholders in the last 10 years. The Company will continue with its policy of quarterly dividends going forward.

The Company has strong networth of approx Rs 19000 crores ($2.7 billion) and healthy liquidity and cash balances of over Rs 18000 crores ($2.5 billion) as on date.

For further details refer PDF file.